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As we near the seventh anniversary of our company’s founding and celebrate another new spring, we are experiencing phenomenal growth here at Spring Health, and that’s leading to some exciting new developments as we enter a new chapter of our story.
Our mission from the outset has been to eliminate barriers to mental health, and that remains the most important measure of our success. While building a service that gets individuals the right care faster, we have grown our Spring Health community to cover more than 5 million lives. That’s millions of people who are now able to access precisely the course of care that’s best for them — individuals and families that can begin to heal.
That phenomenal growth has been spurred by a number of partnerships we have forged with great new customers such as Microsoft, The Hershey Company, JB Hunt, Bumble, and Fujifilm. We have seen so much demand from employers and health plans for Spring Health because the value proposition has become clearer than ever. With last year’s JAMA Open study demonstrating that the Spring approach creates superior financial and clinical outcomes, the return on investment for our customers is indisputable.
To support that growth, we doubled our headcount in 2022, bringing in exceptionally talented team members who have the skills and experience to propel us even further. With this incredible team in place, Spring Health is well positioned to reach more members, and break down the barriers wherever we see them.
Starting today, you will be able to see our new chapter reflected in how we brand ourselves in the market. If you head over to our homepage, you’ll see an updated symbol and wordmark and you may detect a shift in some of the language we use. But that’s just the tip of the iceberg for what has gone into the brand refresh – learn more about it here.
Also in support of our growth and evolution as an organization, we’re pleased to share the news that we have closed a new round of investment into our company. Our investors were so excited by the growth and success of our company that they were eager to “double down” by increasing their ownership in what they describe as one of the most successful portfolio companies they have ever invested in.
We’re incredibly grateful for the continued faith and support we’ve received from the investors who know us best. The round raised $71 million at a valuation of $2.5 billion, which is Spring Health’s highest valuation ever. This funding gives us additional flexibility to invest in our world-class services alongside our path to profitability.
Most importantly, this new chapter of the Spring Health story signifies just how well we are positioned to accelerate our mission to revolutionize mental health care and improve lives. And that means the best is yet to come.